Meeting |
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Report |
Meeting |
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Report |
October 5, 1999 |
| Click here for photos of this Meeting | |
| In keeping with his inimitable style, our President
– Worth Williamson – tipped off our meeting slightly after
12:30 by calling on Mike Myers to give the Health & Happiness report. Given that our club seems to be
in top condition healthwise, Mike jumped right into the Davidson College graduate jokes.
Following Mike’s three questions asked of 8th graders in today’s math
classes – whereby not a single member of Charlotte Rotary called out the answers
– Mike reminded us of the difference in math "in the good old days when we were
in school" and the math our children and grandchildren have to understand in 1999.
Mike then shuffled right into the wedding write-up in the Davidson College newspaper from
years gone by, describing in detail the groom’s stunning attire and barely mentioning
the bride’s existence. With Mike’s dry wit and keen delivery, the packed room
was left laughing. Ray Killian then stepped to the MIC to offer perhaps the most humorous rendition of Visitor and Visiting Rotarian introductions most of us have heard in a long time. Encouraged by chuckles and taunts, Ray continued on, true professional that he is. At last Ray came to the name we all knew he’d have a ball with – Dr. Eugene Kozhevnikov’s name. This time Ray one-upped us all. In his words, "Every week you’re introduced as a guest of the club, Eugene. And every week your last name is pronounced differently. This is the first time someone has gotten it right!" (And none of us knew if, indeed, that was true!) Again --- the packed room was left laughing. A visiting Rotarian from Australia presented us with a banner from his 60-year-old Rotary Club. President Worth reminded us that our neighbors in Eastern North Carolina still need our help. The District Governor for Rotary International has organized a crisis committee to raise funds. Charlotte Rotary members who wish to contribute may make checks out to "Rotary International District 7720" and mail them to Claire Erb at our Rotary office. Our generosity is needed and appreciated. Leon Jorgenson (G-A Technologies) offered a poignant invocation followed by the wonderfully witty song led by Chuck Lineberry (Southern Packaging Corp.) – "My Money Lies Over The Ocean" in honor of our speaker Ed Crutchfield, CEO of First Union. We all enjoyed noting that Ed sung along with great gusto and proved what a great sport he truly is! President Worth introduced the head table: Phil Volponi (Junior Achievement of Charlotte), Neil Burkhead (International Travel Center), Curt Farmer (First Union), Mary Mack (First Union), Leon Jorgensen and Rob Wright (First Union) who introduced our speaker. First Union’s popular and savvy CEO for the past 15 years, Ed Crutchfield "owned" Charlotte Rotary as soon as he began speaking. Addressing Rob Wright, Ed said, "I’ve talked to this uptown Rotary Club a few times before and I notice that it’s always 60 days before Rob’s bonus time." He followed that with another icebreaker story and then settled down to the serious business of First Union’s growth and future plans. Ed spoke of the transformation underway in the financial world/today’s economy. We are in the midst of a "third Industrial Revolution." Two hundred years ago the first Industrial Revolution brought "mechanization; one hundred years ago the second Industrial Revolution brought "standardization." Today’s Industrial Revolution involves "digitalization" as we create new technologies, new products and new brainpower industries. This third Industrial Revolution has allowed big, new industries like 1) computers, 2) semiconductors, and 3) lasers to emerge. It’s also forcing the reinvention of old industries such as finance and retailing, in general. Internet retailing has been increasing by a factor of 10 every five years and may someday overtake conventional retailing. That rapid pace of change has certainly gotten the attention of First Union and they’ve seen it in the rapid acceleration in internet usage by their customers. In January of this year First Union had about 300,000 customers using internet banking and it had been growing slowly for about 3-4 years. The floodgates opened and since January First Union’s online customers have more than tripled to around one million. They are adding 5,000 customers a day on the "net." Customers are demanding multiple channels of access such as phones, computers, tellers and ATMS. Ed shared with us the fact that for the first time in human history the world’s wealthiest man – Bill Gates - owns no sticks and mortar; simply "knowledge." In this environment, skills and knowledge are the only source of sustainable, long-term competitive advantage. Financial capital is a commodity that can be borrowed in New York, Tokyo, London, Charlotte or Cyberspace. Powerful new technology enables capital to flow digitally from place to place so fast it moves around the world several times in a single day. In this placeless society, a modern company’s intellectual property will be pivotal to success or failure. In short, to be a relevant player in the third industrial revolution, we must be very comfortable in a world of constant change. Take a look at Ancient Egypt. The Egyptians had steam powered temple doors yet the steam engine wasn’t used to power economic production until the 18th century. Pre-Columbian American Indians did not use the wheel but they had wheeled toys. Even the internet was around for years before it came into commercial use. It makes us wonder what is right in front of us today that we are missing. Ed cited IBM which was a $10-11 billion company in 1990. It was considered the most profitable company in the world, had the best-known brand name and was the most admired company in the world. Over the next 4 years IBM lost $23 billion (another record for any company in history.) What happened is that profit in the computer business had moved from the companies that assembled computers to those making parts. In other words, the profitability had moved to the "knowledge" part of the business. In short, it is necessary to embrace change even if that change draws criticism in the short term. Woodrow Wilson once said, "If you want to makes enemies, try to change something." On that note, Ed took questions from the floor which included topics such as bank mergers, international intentions, the security business, and the further development of South Tryon Street. He responded to each question candidly and was met with sincere applause. He closed with the comment that as long as he’s CEO he will never vote to sell to another bank and that his Board of Directors are not stupid enough to buy high and sell low. Upon Worth Williamson’s presentation of a Charlotte Rotary coffee mug to First Union’s top banana, Ed responded, "I’ve never gotten anything worthwhile from Worth Williamson and that tradition continues." That response met with gales of laughter from the most appreciative crowd. * * * |
New Member
EDWIN ERWIN MADDREY, III 1999 Winn Public Relations Crescent Public Relations P.O. Box 31604 (28231) 704-335-1350 FAX 704-335-1150 www.crescentPR.com Edwin E. Maddrey III (Winn) was born in Bronxville, N.Y. He grew up in Greenville, S.C. Winn graduated high school from Virginia Episcopal School in Lynchburg, Va., and Davidson College with a degree in history. In his professional career, Winn has concentrated on assisting organizations with their strategic communications. After college, Winn moved to Washington, D.C., where he worked for Congresswoman Elizabeth J. Patterson in a variety of duties including correspondence, legislative research, speech writing and media relations. After Capitol Hill, he served in the office of Presidential Personnel before accepting a position at the U.S. Department of Commerce. At Commerce, Winn wrote speeches, handled all media inquiries and participated in international trade negotiations (Hong Kong, China, India, Egypt, Switzerland and many others). After four years in our nation's capital, Winn relocated to Charlotte. He founded Crescent Public Relations, Inc. in February 1997. The company works with growing companies, especially technology companies and startup businesses, to generate awareness through publications and marketing efforts. The client list includes NBC6, BellSouth, Mariner and several Internet companies. Crescent PR is a growing business located in the Dilworth community. Winn is active in many professional organizations. The Charlotte Chamber of Commerce, the Metrolina Entrepreneurial Council (MEC), North Carolina Citizens for Business and Industry (NCCBI) and the Public Relations Society (PRSA) are some of the organizations with which Winn is involved. In addition to his professional activities, Winn currently serves on committees of the following organizations: Charlotte Chamber's Involvement Forum; The Impact Fund (a project to encourage philanthropy by individuals under the age of forty); Andiamo, Opera Carolina's Young Professionals; the Mayor's Mentoring Alliance; Davidson Annual Fund; the United Way Adult/Child Protection Council; and a past grant panelist for the Arts & Science Council. He is a graduate of United Way's Leading the Way program and a graduate of the Charlotte Chamber's Leadership School. In May of 1999, The Business Journal honored Winn with its "40 Under 40" designation. In his spare time, Winn enjoys reading, travel and golf. * * * DID YOU KNOW?A total of $2,915 was contributed for Earthquake Relief for Turkey. Each member that contributed has received Rotary Foundation Credit. * * * NORTH CAROLINA FLOOD RELIEF Those members desiring to contribute through the Rotary Foundation should send all checks to Claire. The checks should be noted for N.C. Disaster Relief/ District 7720. Any money donated will be sent by the Foundation to a fund administered by 7720 District Governor Charles Williford and a committee of Rotarians he has appointed. Paul Harris credit will be awarded. * * * |
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